Author: NBTC
Bitcoin company Swan alleged in a lawsuit filed Wednesday that ex-employees of the company, including former executives, conspired to execute a “rain and hellfire” plan to usurp the firm’s Bitcoin mining business. The company further alleges that the scheme was aided by Tether, the cryptocurrency giant responsible for issuing the industry’s largest stablecoin by market capitalization, USDT. The complaint, filed in the U.S. District Court for the Central District of California, alleges that the former employees stole “highly proprietary code” from Swan’s Bitcoin mining monitoring software, in addition to stealing its vendors and business partners. The employees conspired to resign…
Kazakhstan granted cryptocurrency exchange Bybit full license approval. Awarded by the Astana Financial Service Authority (AFSA), this approval strengthens the exchange’s expansion in the region. It allows the company to offer a range of crypto services and marks a win in the company’s ongoing global expansion. Kazakhstan has emerged as a key hub for cryptocurrency activity, especially following regulatory tightening in other parts of the world. This new license enables Bybit to offer digital asset trading, custody services, and investment management to users across Kazakhstan and the Commonwealth of Independent States (CIS). Commenting about the licensing, Ben Zhou, the Co-founder…
Impressive gains since the U.S. Federal Reserve’s mid-September rate cut have pushed bitcoin (BTC) out of its downtrend and the crypto is now targeting $70,000 and then new record highs, according to a new research report. “Are you holding enough bitcoin and altcoins to ride the new wave,” is the subtitle of 10X Research’s Markus Thielen’s latest analysis. “With bitcoin breaking above $65,000, we anticipate a swift move toward $70,000, followed by new all-time highs in the near term.” Thielen took note of a sharp increase in stablecoin minting following the Fed’s July meeting, at which it left rates unchanged…
In a notable event within the cryptocurrency domain, a famous trader called “Machi Big Brother” invested 125 ETH (worth $336,800) to purchase 3.28 million $3AC tokens. According to Lookonchain, which tracks data from blockchain explorers and trading platforms, the transaction was completed at an average price of $0.1028 for each $3AC token. Machi Big Brother(@machibigbrother) spent 125 $ETH($336.8K) to buy 3.28M $3AC(by @zhusu) at an average price of $0.1028. #3AChttps://t.co/rehOcePKqm pic.twitter.com/AcdvTkqxxU — Lookonchain (@lookonchain) September 28, 2024 Uniswap Transaction Insights All the transactions made by Machi Big Brother were made through the Uniswap platform, which is an automated decentralized marketplace…
According to data from the Central Bank of Brazil, purchases of cryptocurrency made abroad have soared this year, surpassing the numbers registered in 2023. These purchases, considered imports, have reached $12.37 billion year-to-date, exceeding the total crypto purchases of 2023. This indicates that exchanges and trading platforms are preparing to accommodate a large demand for digital assets. Brazil Registers Cryptocurrency Imports of $12.37 Billion by August 2024 The demand for cryptocurrency in Brazil has greatly increased, and platforms have also purchased more crypto to offer their users. The Central Bank of Brazil has recently released data that indicated that cryptocurrency…
Money from the political action committees backed by such crypto firms as Coinbase and Ripple Labs is helping lift the Republican challenger against Sen. Sherrod Brown, who chairs the Senate Banking Committee where crypto bills have languished. Blockchain businessman Bernie Moreno has experienced a rapid rise in polling, some of which now put the Republican candidate atop Brown in the battleground state of Ohio. The colossal campaign spending from the cryptocurrency industry is showing up in dominant fashion in Ohio’s U.S. Senate race, where its political action committees have devoted $40 million to support Republican Bernie Moreno’s opposition of Sen.…
Top US-based crypto exchange Coinbase is teasing its new wrapped version of Bitcoin (BTC) to Ethereum (ETH) layer-2 scaling solution Arbitrum (ARB). In a new announcement on the social media platform X, Coinbase Assets tells its audience that Coinbase Wrapped Bitcoin (cbBTC) is “coming soon” to the smart contract platform Arbitrum. Earlier this month, Coinbase announced the launch of cbBTC, a token that would allow holders of the crypto king to access decentralized finance (DeFi) protocols over the Ethereum and Base blockchains. At the time, Coinbase said cbBTC would be compatible with several prominent DeFi platforms, including Aave (AAVE), Curve…
In its report titled “Bitcoin as a Unique Diversifier,” investment giant BlackRock outlined Bitcoin’s distinct characteristics, highlighting its low correlation with U.S. equities and its potential role as a “risk-off” asset, particularly with the approval of physically settled options tied to the IBIT spot Bitcoin ETF. BlackRock Highlights Bitcoin’s Unique Role as IBIT Options Receive Approval The report highlighted four key points. First, Bitcoin’s fundamental characteristics differ significantly from traditional financial assets, as it lacks elements such as quarterly earnings or a central authority. Secondly, Bitcoin’s volatility raises questions about its classification as a “risky” asset. But BlackRock suggests that…
The latest rankings of decentralized finance (DeFi) projects based on social activity clarified their engagement levels. The insights reflect the increasing significance of community interactions in determining project relevance in the rapidly evolving crypto landscape. Phoenix, a crypto analytical platform, shared the report highlighting the details of top DeFi projects through its official X account. TOP #DEFI PROJECTS BY SOCIAL ACTIVITY$SOL $XRP $AVAX $LINK $HBAR $INJ $EGLD $FLOKI $RENDER $STX pic.twitter.com/amwHzDogXB — PHOENIX – Crypto News & Analytics (@pnxgrp) September 28, 2024 Solana Dominates the Rankings Recent data from Phoenix Group reveals Solana ($SOL) stands at the forefront, boasting 102,111…
On October 10, Christie’s London will host an auction for “Ascend”—a 1-of-1 piece of dynamic digital artwork inscribed on Bitcoin’s Ordinals protocol—during its Post-War and Contemporary Art Day Sale. It will be the only digital artwork in the sale. This event will mark the first-ever Bitcoin Ordinal to appear in a live auction at Christie’s, bridging the gap between the traditional and digital art worlds. “Ascend” is a part of “The Wild Within” project created by artists Ryan Koopmans and Alice Wexell. The series revitalizes architectural ruins through a digital medium, combining photography with advanced 3D techniques to breathe new…